Small Modular Reactor

A. State policy and definition.

The state shall give priority to the evaluation and responsible development of small modular nuclear reactors as a source of reliable electricity and useful thermal energy for New Mexico. For purposes of this section, “small modular reactor” means a nuclear fission reactor designed for modular manufacture or construction and having a rated electrical generating capacity not exceeding three hundred megawatts per reactor module, or an equivalent thermal capacity as defined by implementing law.

This priority shall be implemented through scientific evaluation, public planning and project development subject to the requirements of this section. It shall not constitute approval of a particular technology, vendor, site or project, or require approval of a project that fails to satisfy applicable standards.

B. Planning and implementation.

Within one year after ratification, the legislature shall provide by law for a coordinated small modular reactor program administered by the state agency responsible for energy planning, in consultation with agencies responsible for utility regulation, environmental protection, water administration and emergency management.

Within two years after ratification, the administering agency shall publish a statewide feasibility and development plan. The plan shall identify electricity and thermal-energy needs, potential sites and infrastructure, opportunities to use suitable existing energy facilities, licensing pathways, workforce requirements, financing options and material technical or economic uncertainties. It shall be updated at least every four years.

C. Independent economic and reliability review.

Before the state commits public funds to reactor construction or a long-term purchase obligation, the proposed project shall undergo an independent, publicly available evaluation of technical maturity, licensing status, expected completion schedule, fuel availability, reliability and total life-cycle cost.

The evaluation shall include capital and financing costs; fuel and operating costs; transmission and interconnection; outages and system-support requirements; security and emergency preparedness; water supply; radioactive waste management; decommissioning; and reasonably foreseeable cost overruns and delays. It shall distinguish thermal capacity from electrical output, nameplate capacity from expected generation, and estimates from demonstrated performance.

Comparisons with other energy resources shall evaluate comparable reliability and service requirements and applicable system costs. State assistance shall not be approved solely on the basis of a vendor’s unverified cost or performance projection.

D. Licensing, safety and environmental protection.

No reactor shall be constructed, fueled or operated without the licenses and approvals required for that activity under applicable federal and state law. Nothing in this section transfers federal nuclear-safety or licensing authority to the state or waives an applicable licensing requirement.

Projects shall provide for nuclear safety, physical security, cybersecurity, emergency preparedness and environmental review as required by controlling law. Applicable state requirements concerning siting, water appropriation, water quality and other matters within state authority shall remain in effect. Project review shall account for local water availability, drought conditions and effects on existing water rights.

No provision of this section shall impair tribal sovereignty, federal or tribal reserved rights, interstate obligations or jurisdiction of a federally recognized Indian tribe.

E. Waste management and decommissioning.

Before any public commitment to construction, the project shall identify legally available arrangements for spent fuel and radioactive-waste management and demonstrate financial assurance for decommissioning and associated obligations as required by applicable law.

This section does not authorize a radioactive-waste disposal facility, substitute for federal approval of such a facility, or presume that a permanent disposal pathway is available for a particular design. Waste management, fuel-cycle and decommissioning assumptions shall be disclosed in the project evaluation.

F. Demonstration, workforce and procurement.

The state shall support research, workforce education, engineering studies and demonstration opportunities that advance the responsible development of small modular reactors. Construction assistance shall be limited to projects that satisfy the preceding requirements and have a demonstrated path to obtaining all necessary approvals.

Procurement and assistance shall use transparent selection criteria and applicable competitive procedures. No vendor, reactor design, fuel type or proprietary technology shall receive a constitutional entitlement to public support. Partnerships with educational institutions, utilities, local governments and participating tribal governments may be established by law within their respective authority.

G. Funding and ratepayer protection.

The legislature shall provide appropriations for program administration and evaluation through the regular budget process. Any construction appropriation, guarantee, debt issuance or long-term financial obligation shall require the approval otherwise required by law and shall comply with applicable constitutional restrictions.

Implementing law shall provide for independent financial oversight and disclosure of taxpayer and ratepayer exposure. Utility cost recovery shall remain subject to lawful review by the appropriate regulatory authority. This section establishes no automatic right to recover construction costs from ratepayers, no dedicated tax and no guaranteed public purchase of reactor output.

H. Public participation and reporting.

The administering agency shall provide public notice and a meaningful opportunity for affected communities to comment on the statewide plan and proposed publicly supported projects. Applicable tribal consultation and governmental consent requirements shall be observed.

An annual public report shall identify expenditures, project milestones, licensing progress, independently reviewed cost and performance estimates, material risks and changes in project status. Information protected by law, including nuclear-security and legitimately confidential information, shall not be disclosed.

I. Construction and effective date.

This section establishes a state priority and program mandate. It does not require retirement of existing generation, prohibit another lawful energy resource, guarantee a particular electricity price, or create an individual entitlement to funding, a license or damages.

If a provision or application is held invalid, the remaining provisions and valid applications shall remain effective to the extent they can operate independently. This section shall take effect upon ratification by the voters of New Mexico.